Q2 2024 Schneider National Inc Earnings Call Transcript
Key Points
- Sequential improvement in earnings and margins across Truckload, Intermodal, and Logistics segments.
- Received five customer recognition awards, including Carrier of the Year and partnership and sustainability.
- Double-digit volume growth in Mexico cross-border operations.
- Improved efficiency in Intermodal segment, reducing friction costs and increasing productivity.
- Strong balance sheet with net debt leverage at 0.3 times and continued share repurchase program.
- Adjusted income from operations decreased to $52 million from $107 million year-over-year.
- Adjusted diluted earnings per share dropped to $0.21 from $0.45 in the prior year.
- Intermodal revenues decreased by 3% compared to last year due to lower revenue per order.
- Logistics revenues fell by 7% year-over-year, driven by lower brokerage revenue per order and volumes.
- Lower-than-expected contract price increases and volume impacts have shifted the timing of earnings improvement.
Thank you for standing by. My name is Ian, and I will be your conference operator today. At this time, I would like to welcome everyone to the Schneider Second Quarter 2024 Earnings Call. (Operator Instructions)
I will now hand the call over to Steve Bindas, Director of Finance, Investor Relations. You may begin your conference.
Thank you, operator, and good morning, everyone. Joining me on the call today are Mark Rourke, President and Chief Executive Officer; Darrell Campbell, Executive Vice President and Chief Financial Officer; and Jim Filter, Executive Vice President and Group President of Transportation and Logistics.
Earlier today, the company issued an earnings press release. This release and an investor presentation are available on the Investor Relations section of our website at schneider.com.
Our call will include remarks about future expectations, forecasts, plans and prospects for Schneider. These constitute forward-looking statements for the purposes of the safe
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